As the number of Canadians investing in vacation properties continues to rise, individuals are encouraged to consider purchasing a second home for relaxation, wealth-building, and family bonding. Accessible mortgages with low rates are available for vacation properties, including non-winterized or remote locations, such as lake cottages or college housing options. Different lending criteria apply to secondary homes compared to primary residences, with some properties qualifying for a minimum 5% or 10% down payment, while others may require 20% or more. Cottages also have varying requirements, with certain types necessitating a higher down payment and receiving higher rates, based on their categorization as year-round accessible or seasonal. Various options for incorporating down payments include mortgage refinancing, HELOC, or reverse mortgage, and innovative tools in Canada can streamline the mortgage process for increased accuracy. Interested parties are encouraged to reach out for more information and a quick mortgage pre-approval process.